...and the rest

Shares

Oxford Instruments designs and manufactures “cutting-edge science tools”. On a 12-month price/earnings (p/e) ratio of 32 the shares are not cheap. But there is still upside thanks to a “strong order book, operating margins well on the road to 20%” and spare cash to fund acquisitions. Buy (2,695p).

Investors’ Chronicle

Engineering consultancy Ricardo works on transmission components for the likes of McLaren, Aston Martin and Bugatti. Management is tapping into green opportunities through environmental and rail consulting. On just 12 times forward earnings, shares in this “reformed petrolhead” still “have miles in the tank” (382p).

The Times

Avoid ITV. The broadcaster has narrowly escaped relegation from the FTSE 100, but the writing is “on the wall” for traditional television as streaming platforms take eyeballs elsewhere. Management hopes to diversify revenue away from advertising and into platforms such as BritBox, but “deep-pocketed” competition will make that hard to achieve (115p).

The Daily Telegraph

Airlines IAG and easyJet are still suffering from pandemic restrictions but both have the cash they need to ride out further disappointments. There is huge pent-up demand for travel, so the stocks look well-placed to take flight when a recovery eventually comes. Buy (164p; 809p). The end of the stamp-duty holiday might weigh on the property sector, but housebuilder Taylor Wimpey will continue to profit from ultra-low interest rates and government subsidies for the housing market. Buy (181p).